Six of nine sectors moved higher on Monday… XLI, XLP and XLY were the strongest sectors. XLK was
the weakest sector.
Breadth weakened on Monday as decliners
led advancers…1.00 to 1 on the NYSE and
1.12 to
1 on the NASDAQ…Breadth strengthens as advancers increase and or
decliners decrease. Breadth
weakens as advancers decrease and or decliners increase.
Monday – weakened, decliners led
Friday – weakened,
advancers led
Thursday – weakened,
advancers led
Wednesday –
strengthened, advancers led
Tuesday – strengthened, decliners
led
The SPY stayed above
resistance again on Monday. Thursday’s
SPY breakout was by only 47 cents so traders should continue to watch
closely if prices rollover and
be prepared to protect profits, However it appears that the uptrend is
more likely to continue.
SPY down .10 cents at 146.97...volume 89.5 million
shares…
VIX up .16 cents at 13.52…
TNX down -0.18 at 18.57…
TNX down -0.18 at 18.57…
TLT down .33 at 11952…
XLF down.05 cents at 17.06…volume 38.2 million shares
XLF down.05 cents at 17.06…volume 38.2 million shares
AAPL down - 18.55 at 501.75…volume 26.2 million
shares on rumors of weak demand for iPhone 5…EPS Jan 23
FB down .77 cents at`30.95…on volume of 98.8 million shares…EPS Jan 30
As earnings season
begins look for stock selectivity to increase as stocks with good earnings and
guidance will likely rise and those with either weak earnings or guidance likely to fall in
price. This selectivity and the
typical pause waiting for EPS announcements has so far kept the SPY in a
narrow range and may continue to do so for the next several days.
Earnings to Watch this
Week:
Tuesday – LEN
Wednesday – EBAY, GS,
JPM, USB
Thursday – AXP, BAC,
COF, C, FAST, INTC, UNH, XLNX
Friday – GE, JCI, SLB,
STT, STI
__________________
Technical Commentary:
The SPY formed a
potential hanging man for the third day as it stayed above horizontal. The SPY down 10 cents trailed DIA +0.13% and IWM +0.05%. RIMM,
NFLX, SHLD and COH broke through resistance on Monday and gave fresh entry signals. FB formed a bearish engulfing pattern
after a nine-day uptrend.
Trade what you see on the
chart of your position. If it is
breaking out of resistance take the trade or stay with the uptrend according to
your rules. If the stock begins to
rollover protect your profits.
The Euro rose another 40 pips to close at 1.3381 on Monday. A strong Euro is generally positive for U.S.
stocks.
Disk storage stocks WDC +1.64% and STX +2.04% paused. Coal stocks ANR,
ACI, BTU, CNX, JRCC and WLT continued their 5-day slide. Chinese
solar stocks TSL and LDK are forming bull flag patterns in
their multi-week uptrend.
The Market
Forecast Green Line is in the upper reversal zone.
____________________
Setups
Breakout: SINA, JNPR,
TXN, WDC, NUAN, CRM, ADSK, IWM, CTRP, BRCM, RCL, NKE, EBAY, REGN,
ADBE
Bull Flag: QCOM, GLW, JRCC, TRIP, CERN, ANR, ROST, FSLR,
COST, ZION, ADI, GMCR, IBM, VIAB, CRUS, YELP, GOOG
Moves
Breakout: RIMM, NFLX, STRZA, NTES, SPY, EXPD, FAS, CTXS, JOY,
STX, FOSL, GILD, LIFE, FB, AMZN, WAG, EQIX, SNDK
Bounce: DECK, CTSH,
FFIV, SBAC, PCAR
____________________
47 of 100 NDX stocks
closed higher and four were unchanged on Monday…
LMCA spin off Liberty Media
resulting in symbols STRZA and LMCAD.
NDX listed symbol is STRZA.
Leading NDX 100 stocks included: DELL, SHLD,
CSCO, STX, DTV, AMZN, WDC, PAYX, SPLS, CTRX
Lagging NDX stocks included: AAPL, FB, GOOG,
ALTR, ESRX, MXIM, MCHP, GOLD, VOD, LBTYA
Leading stocks> +2% on Monday included: RIMM, HLF, DECK, COH, MCP, VECO, NFLX
Lagging stocks < -2.0% included: CRUS,
LDK, AKS, GMCR, ANR, FB, CSTR, X
Stocks to Watch on Tuesday…
Holding Above 30 DMA = 77
SBUX, CSCO, VMED, SBAC, EXPD, LLTC, PCAR, XLNX, TXN, ADI, SIAL, FISV, ADSK, DELL, FFIV, ORCL, COST, ADBE, GOOG, NWSA, DISCA, AMAT, CTSH, FOSL, KLAC, VIAB, NUAN, STX, LBTYA, WDC, ALTR, CHKP, FAST, MCHP, SNDK, EQIX, STRZA, CTXS, CHRW, INTC, SIRI, BIDU, VRSK, ADP, AMZN, BRCM, CMCSA, DTV, EBAY, EXPE, LINTA, MU, SRCL, SYMC, VRTX, WYNN, FB, ALXN, CA, CELG, CERN, GILD, HSIC, INTU, LIFE, PCLN, QCOM, MDLZ, CTRX, ROST, SPLS, VOD, BMC, ESRX, REGN, AVGO, ATVI
SBUX, CSCO, VMED, SBAC, EXPD, LLTC, PCAR, XLNX, TXN, ADI, SIAL, FISV, ADSK, DELL, FFIV, ORCL, COST, ADBE, GOOG, NWSA, DISCA, AMAT, CTSH, FOSL, KLAC, VIAB, NUAN, STX, LBTYA, WDC, ALTR, CHKP, FAST, MCHP, SNDK, EQIX, STRZA, CTXS, CHRW, INTC, SIRI, BIDU, VRSK, ADP, AMZN, BRCM, CMCSA, DTV, EBAY, EXPE, LINTA, MU, SRCL, SYMC, VRTX, WYNN, FB, ALXN, CA, CELG, CERN, GILD, HSIC, INTU, LIFE, PCLN, QCOM, MDLZ, CTRX, ROST, SPLS, VOD, BMC, ESRX, REGN, AVGO, ATVI
Moving Above 30 DMA =5
AKAM, ISRG, PAYX, SHLD,
YHOO
Moving Below 30 DMA = 4
MAT, MXIM, MYL, XRAY
Staying Below 30 DMA
PRGO, AMGN, GRMN, NVDA, NTAP, ORLY, WFM, MNST, MSFT, AAPL, BIIB, DLTR, BBBY, GOLD
Eight Week Intermediate
Term Market Trend: Up
Short Term Market Trend: Up
1 comment:
Dave:
Thanks so much for this blog and the trading rooms etc.
Appreciate it All!
Robert
CANI_212
Post a Comment